The National Retail Federation is predicting holiday retail sales growth of between 3.6% and 5.2% over last year's figures. That would mean sales between $755.3 billion and $767 billion. But as NRF CEO Matthew Shay was careful to highlight, surging coronavirus cases and new shutdowns could upend all predictions, scuttling economic recovery and dealing another blow to beleaguered businesses. He cited hopes of a vaccine as a big contributor to consumer confidence.
“We know we’ve got momentum as we head into the season,’’ NRF CEO Matthew Shay said in a call announcing the group's forecast. "We’ve seen consumers very, very engaged, looking for opportunities to celebrate.’’